Ukraine war Bullshit.
- By Mr.BR
- The Bear Pit
- 3874 Replies
That money is not all Russian and most of it from non sanctioned individuals or businesses,, only about 60billion is kinda clearly sanctioned , Belgium that sits on it is not to eager on taking it as it will resoult in decades of litigation and when verdicts come in they would be on the hook for interest and damages. Other side of the coin is there are shit load of western assets in Russia as well , tit for tat counter seizure would force those companies to seek reinbursment by US or EU for losses suffered due polices. So its much more complex than folks imagine even without the reputational damage to 'debt financing instruments aka goverment bonds'
In any case its quite understandable that those not on the hook for the assets are the loudest in regards to confiscation , including formerly Biden admin as US held assets were like 5 billion in grand total. Most assets are in Belgium
That is why so far all sorts of arangments like using profits from assets as colateral for loans are playing out.
Billions of euros in frozen Russian assets not so ‘Russian’, Belgian news outlet says
A large portion of the €258 billion being held in Belgium under Russian sanctions has reportedly been found to belong to Western banks and non-sanctioned individuals and businesses.
Legal experts warned that the Belgian state could face substantial damage claims, and estimated that 80 per cent or more of the blocked billions belonged to legally innocent people who should not have been affected by sanctions.
Billions of euros in frozen Russian assets not so ‘Russian’, Belgian news outlet says
A large portion of the €258 billion being held in Belgium under Russian sanctions actually belongs to Western entities.
brusselssignal.eu
Meanwhile financial gymnastics to defense spending are continuing , as there is no money for lofty 3% let alone 5% GDP defense budgets
So new gymnastics would count highways ,hospitals ,ports and Ukraine aid in defense spending ,so real hikes might turn out to be modest.
